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Iveco Looking for European Partner

Iveco is reportedly looking for an alliance in Europe. Giancarlo Boschetti, CEO of Fiat's commercial vehicle unit, told an Italian business daily that they are looking for a partner in Europe to consolidate Iveco's presence in its main market.

The company's current share of the European truck market is 18.3%, second only to DaimlerChrysler. The recent Volvo/Renault and Volkswagen/Scania alliances have created strong competition, but Boschetti said they won't act hastily. "We know that a mistaken accord would be a lot worse than no accord at all," he said.European analysts say Germany's MAN or Paccar-owned DAF are logical candidates. Navistar International has also been mentioned by Italian newspapers as a possible Iveco partner.